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Escucha 'Nice to Meet You (Acoustic Live Solo)' de Francesca Michielin en Apple Music. What did they know? Francesca Bellettini joined Kering in 2013. She was a villain, then an icon. Its one thing to have a strong brand and brand messaging, but that is lost within itself if it isnt carried throughout every level of the business, McInnes explained. Even though some opportunities can appear to be boring or insignificant on the surface level, there is always some sort of adventure to be found in the work. International Womens Day happened to coincide with the campaign. It was this confidence that led her to choose Mr. Vaccarello, 38, to replace Mr. Slimane, the designer who turned around the struggling Saint Laurent while changing the name of its ready-to-wear line, its store dcor, ad campaigns and every product. Balance is also evident in Saint Laurents approach to its clientele and distribution. Francesca Bellettini is an Italian businessperson who has been the head of 8 different companies and currently is Chairman at Yves Saint Laurent of Monaco, Chairman of Yves Saint Laurent Parfums SAS, Chairman & President of Yves Saint Laurent SAS, Chairman at Yves Saint Laurent Logistica SRL, Chairman for SL Luxury Retail SRL, Chairman at Yves Saint Laurent Spain SA, Chairman of Yves Saint . The company broke even two years ago and recently received its firstinvestment from the Indian Angel Network. Subhadra Dravida founded Transcell Biologics, a stem cell technology company, in 2009. The brands sales surged 45 per cent in the first three quarters of 2021, while parent groups Kering sales were up 36.6 per cent. Bellettini recommended her viewers to always be observant of a companys culture before applying for a job. At a time when fashion is all about body positivity, Saint Laurent put thin models on the catwalk of its recent show. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Join Facebook to connect with Francesca Bellettini and others you may know. Impressively, the executive has maintained the house's upward trajectorydespitethe departure of its star creative director Twenty-nine years old is a little early to do a job for money. How the biggest companies plan mass lay-offs, The benefits of revealing neurodiversity in the workplace, Tim Peake: I do not see us having a problem getting to Mars, Michelle Yeoh: Finally we are being seen, Our ski trip made me question my life choices, Apocalypse then: lessons from history in tackling climate shocks. 2013 - Present, 2008 - 2013, Buying & Merchandising Director, Selfridges, Creative Director, Tom Ford & Chairman, CFDA, Former Chairman & Chief Executive, Yoox Net-a-Porter Group. Email us at [email protected]. The news sent shockwaves through the industry, with many interpreting the change as a sign of disrespect to the companys founder and namesake. She was appointed president and CEO of Yves Saint Laurent in 2013. Plan A was to study Business Administration at Bocconi University and follow her dream of running a company. Not long after the name change, the company continued its transformation by appointing Bellettini as its new CEO, replacing Paul Deneuve, who changed industries to work under Apple CEO Tim Cook. (For example, we would never do gaming simply because its something Generation Z is into. For more updates about the The BoF 500 subscribe to the Daily Digest newsletter. But is it bad? But she does believe in learning from mistakes. He never frightens you, she said. It was brilliant from a marketing standpoint. We are the only French couture house to be relevant in both menswear and womenswear. Alex Murdaugh Receives Life Sentence: What Happens Now? Opinion: No Country for Alzheimers Patients, Opinion: Common Sense Points to a Lab Leak, Opinion: A Nikki Haley and Vivek Ramaswamy Victory, Opinion: Overruling the District of Columbia on Crime. It became modern and sleek, with an homage to the brands history, while elevating it from the image Yves Saint Laurent called to mind at the time it made everyone have an opinion. It was a very ironic, very playful way to present stilettos and boots, she said. Certainly, Bellettini deserves to be recognised as one of the most influential leaders in fashion today. The enshittification of apps is real. Even when stores were closed, we did a lot of e-learning about how to sell the different product categories together, she says. Speakers like Victoria Beckham, Saint Laurent chief executive Francesca Bellettini, Balenciaga CEO Cdric Charbit and model Bella Hadid engaged with a variety of issues: technological disruption, developing sustainable practices and . She has that rare leadership quality which allows her team members to do the work they were hired to do with little or no interference. This is to ensure the offer is reflecting the current vision of the brand. However, along with creative director Anthony Vaccarello, who she recruited in 2016, Bellettini has steered Saint Laurent to new heights without deviating from the brands DNA. Luckily, everyone in Bellettinis team did speak English with her. Bellettini also shared how she still does not speak French. Similarly, all e-tailers moved from a wholesale model to e-concessions (except for the websites of some US department stores, where Saint Laurent is still sold wholesale). Markdowns are now limited to controlled environments meaning few private sales dedicated to selected clients and outlets, which she calls a legitimate channel with very small overlap of clientele with stores. Such was Slimanes influence that many industry analysts predicted his departure would lead to a reversal of Saint Laurents recent growth. FORTUNE may receive compensation for some links to products and services on this website. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. She had always loved fashion, but the job came with a 50 percent pay cut. For cost savings, you can change your plan at any time online in the Settings & Account section. It got everyone talking about Saint Laurent again, and also increased brand awareness with a younger audience those future loyal customers the key to brand longevity., As well as it eventually turned out for the brand, at the time few could have predicted the success Saint Laurent would enjoy as a result of the overhaul. There are 12 older and 7 younger executives at Kering SA. She lets me be totally free. He asked me did I want to be C.E.O. You will be notified in advance of any changes in rate or terms. But I dont have to do something to please someone or some client.. Francesca Bellettini, chief exec of fast-growing Yves Saint Laurent, says a crucial part of managing a business is balance. But in one areapublic relationswomen appear to dominate. From left, Ms. Bellettini; Anthony Vaccarello, creative director for Saint Laurent, and Franois-Henri Pinault, chairman and chief executive of Kering. Her obsession is paying off. Simmenauer adds that the brands handbags in particular are timeless and well priced. Rebecca Faria, a 29-year-old Brazilian. People from her region have a disarming way of speaking that makes them sound playful even when they are dead serious. Compare Standard and Premium Digital here. And though former Creative Director Hedi Slimane was very much a driving force for this transition, it was CEO Francesca Bellettini who ensured the success of such a risky strategy, while also overseeing a radical overhaul of the company from within. But the largest companies in Silicon Valley are trying to change that, using virtual sports platforms to drive adoption and profit in this new world. Also, focus: In Paris, Ms. Bellettini lives in an apartment close to the 17th-century htel particulier on the Left Bank that serves as the companys creative core. In 1999, she joined the Business Planning and Development division of the Prada group, and later became Operations Manager for Helmut Lang. She is determined never to panic or bow to public pressure out of fear. Thats when Mr. Pinault noticed her. Saint Laurent wanted to be a billion-dollar company. Eileen Fisher is trying to raise the bar for sustainable fashion. She allots 90 minutes every Monday morning for a lesson with a French tutor and sometimes stays up to midnight studying grammar. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. The fired Google engineer who thought its A.I. Bellettini started Bocconi University and completed her education with a year abroad at the University of Chicago where she was introduced to the world of investment banking. Bellettinis first major decision as CEO was to give Slimane more autonomy in deciding the labels creative direction a move that would firmly establish Saint Laurent as a refreshed brand, while also marking Bellettinis preference for allowing people the freedom to do what they do best. This generation doesnt appreciate being considered a target. This was a further step, she says. This is made possible through a leadership style that is confident, but trusting. Bellettini will succeed current chief executive Paul Deneve, who after two years at the head of the luxury fashion label is leaving for a position in the technology industry in California . Lauren Sherman. Francesca Bellettini, the chief executive of Yves Saint Laurent, in Paris.CreditMarco Cella for The New York Times. Why Barnes & Noble Is Copying Local Bookstores It Once Threatened, What Floridas Dying Oranges Tell Us About How Commodity Markets Work, Watch: Heavy Snowfall Shuts Down Parts of California, Watch: Alex Murdaugh Found Guilty in Murders of His Wife and Son. Life & Arts Saint Laurent CEO Francesca Bellettini on the making of a $1bn brand At the FT's Business of Luxury conference in San Francisco this week, the head of the French house with 26 per. The creative director responded to Bellettini with, So you did not like the rest? Bellettini drew attention to how important it is to respect designers and understand the pressure they have on their shoulders. Good morning, WMPW readers! In his new novel, Tracy Flick Cant Win, author Tom Perrotta asks: Who is Tracy Flick now? 2023 Fortune Media IP Limited. We see with the store reopening worldwide, we have a lot of younger customers coming, people in their 20s, buying gifts, etc., she says. Francesca Bellettini has achieved the impossible with Saint Laurent. That means you risk having more leftovers. We communicate the brand, and Anthony does it in a way thats very relevant, she says. Tall and slim, Ms. Bellettini is always clad head-to-toe in Saint Laurent, which she wears with the throwaway ease of any old thing. The scientific advance could aid people with recent hearing loss. Frances advertising watchdog asked Saint Laurent to modify two ads. It was an anecdote from the early times of her career when she attended a meeting. By Laure Guilbault November 15, 2021 Courtesy of Saint Laurent Her extensive managerial experience in the fashion industry precedes her time at Bottega Veneta;she previously was a merchandising director at Gucci, operations manager at Helmut Lang, and has also held various positions at Prada. Under Bellettinis leadership and Vaccarellos creative guidance, Saint Laurent has continued its unprecedented rise. The Saint Laurent head office is based on Rue de Bellechasse in Paris. Two Days Mattered Most. After an internal study of YSL, Ms. Bellettini concluded that the company either had to invest substantially and spark growth or begin dismantling operations and shrink to half its size. The fundamentals are even stronger, Bellettini says of the luxury houses current business, speaking in an exclusive Vogue Business interview at her marble-clad office in Paris. With the brands new direction firmly established, Bellettini is now focused on the future. At a time when other Kering brands including Alexander McQueen and Gucci dabble in resale, Saint Laurent stays away from it; at a time when gaming takes fashion by storm, Saint Laurent doesnt jump on the bandwagon. The name Yves Saint Laurent is iconic within the fashion realm, and the client base is loyal, but having to stay relevant and to attract the next generation of customers is why the rebranding was so drastic and became so controversial. With the house on track to end 2021 with sales over 2 billion, CEO Francesca Bellettini believes the brand can rise even further. Reach out to me, at: [email protected] or @laurascohn. The decision was to invest. Daniel Lee's surprise exit from Bottega Veneta, The Long View by Vogue Business: The fashion CEOs take on resale, LVMH fashion sales climb despite concerns in China, Saint Laurent is the new rising star at Kering. Cross selling requires more time. All rights reserved. Parent company Kerings 2016 results, for example, revealed the brands comparable revenue surged by an astonishing 33.9 percent across all product categories and geographic regions. Today, the collections may not be identical, but the fact equal importance is placed on menswear and womenswear is something quite uncommon in the world of high fashion. When she saw an article of clothing she really liked, she could not hold herself from saying I really liked that, without thinking about what her comments impact could be. Saint Laurent wanted to be a billion-dollar company. Having crossed the $1 billion in sales threshold in 2017, the brand isa star performer in parent companyKerings luxury portfolio. Although Bellettini shared that she did not always know she wanted to work in the fashion industry, she was certain her dream was to run a company. The people shaping the global fashion industry, curated by the editors of The Business of Fashion, based on nominations and on-the-ground intelligence from around the world. At present, 15 percent of Saint Laurents global customer base is in Europe, 20 percent is in China, 15 percent is in Japan, 20 percent is in the rest of Asia, and 17 percent is in the US, with the remainder spread throughout the rest of the world. In early 2016, Slimane shocked the fashion world by announcing his decision to leave Saint Laurent, in spite of the success and influence he enjoyed in his role. What was missing from Saint Laurent in 2012 was not the business or the foundation, but the fashion authority and the clarity of the brand. We support credit card, debit card and PayPal payments. Inside out If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Notable for Saint Laurent under Bellettini is its leather business. Working with her is enriching, Mr. Vaccarello said. Bellettini has overseen a radical rebranding, overhauling the company from within Image: Nico. He is Belgian-born, and his first language is French, but his parents come from Agrigento in Sicily, and he grew up speaking. Bellettinis leadership has fueled the Houses expansion and enabled Saint Laurents identity to emerge, pushing boundaries forward, yet remaining true to the Houses core values. Sustainability, another pressing topic for fashion brands to consider alongside growth, is a priority, Bellettini says. She sure is a powerhouse woman running a billion-dollar brand. This, Bellettini maintains, also translates to improved business from travellers a key strategy given the huge potential of travel retail. However, Bellettini also expressed that delving into the fashion industry was not an easy decision; it would cut her salary in half compared to her work as an investment banker. This mistake turned into an important lesson, contributing to Bellettinis success in balancing the creative and business parts of the fashion brands she worked with based on mutual trust and respect. On March 10th, hundreds of excited audience members watched the zoom stage open to reveal a sneak peek of the Yves Saint Laurent headquarters in Paris; sitting in her chic pantsuit and shining a wide smile was Francesca Bellettini, CEO of YSL. Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. Bellettini has overseen a radical rebranding, overhauling the company from within Image: Nico. Though she declined to disclose a more ambitious goal herself, industry sources say it wants to become a 5 billion brand in time. Mr Saint Laurent himself said in the 70s: Why should we change a product when its already perfect? So, those people who were criticising the fact that some of our products were recurring and that we had a permanent collection probably didnt remember that it was actually part of the DNA of the brand, Bellettini told BoF. In his place, Bellettini appointed Anthony Vaccarello, a young designer who had previously been successful at Versus Versace. This massage technique is attracting fans across Hollywood, including Ariana Grande, Kourtney Kardashian and Sean Diddy Combs. Please see our privacy policy for more information. Renaming a world-famous brand is never advisable. university Sign up to our newsletter for a truly global perspective on the fashion industry. Kerings largest brand missed analyst estimates, citing the gradual arrival of the new Aria collection and the decline of traffic in the stores in Asia-Pacific due to Covid restrictions this summer. Bellettini believes having a permanent collection is vital in ensuring brand awareness and recruiting customers. The looks Anthony does for the shows are incredibly complete jewellery, shoes, etc. He met with Ms. Bellettini secretly, and after several interviews, including one with Franois-Henri Pinault, Kerings chairman and chief executive, was offered the job. Apple said Mr. Deneve would be. "I most often work in places that are torn by war, natural disasters or epidemic, but I'm incredibly at peace amid the chaos," she said. She wished for the brand to reach 1 billion dollars in sales -- and well, Bellettini crossed that goal by reaching 2 billion dollars in sales in 2017. When she arrived from another Kering brand, Bottega Veneta, in 2013, the. All Rights Reserved. Francesca Bellettini is 50, she's been the President and Chief Executive Officer of Yves Saint Laurent and Member of the Executive Committee of Kering SA since 2015. One question asked Bellettini what she most enjoyed about her job. Non-Executive Director at Ferrari - View - Ferrari org chart. 2023 The Business of Fashion. Although she may not be a fluent French speaker yet, she was awarded the French Knight of the Legion of Honour, the highest possible distinction for a civilian in the country, serves on the executive committee of France's Fdration de la Haute Couture et de la Mode, and in 2019 was elected president of the Chambre Syndicale de la Mode Fminine, the country's governing body for womenswear. (Personal luxury goods sales dropped 22 per cent at the time, according to a Bain Altagamma study.) It isn't easy. It wasnt her first time in the line of fire, in any case. YSL continues to grow that number. This is why we invested a lot in training. An Italian woman who had never run a company, lived in Paris or learned the unwritten codes of French society, she was considered a strange choice to become chief executive of Yves Saint Laurent, the ultimate French brand, in 2013. In fact, the Parisian fashion house is doing so well it has become the fastest growing major brand in the competitive luxury fashion space. Its part of the DNA of the brand, Bellettini told Business of Fashion (BoF) in an April 2016 interview. Bellettini joined YSL during a crucial time in its development. Slimane leaves Saint Laurent, and Anthony Vaccarello is named. By Roza Kovak. As her son is somehow part of her dead lover, she falls in love with him and tries to seduce him, but he has a girlfriend named Julie. Saint Laurent Paris is consistent throughout, from manufacturing to customer service, with every employee at every level aware of the brand identity and carrying on their jobs with a full understanding of the story they are telling.. All rights reserved. Leather in particular is a material the brand is paying attention to, in terms of avoiding waste. The only time that there is more women on the set as extras is a swimming pool scene and they're all in bikinisany swimming pool scene and suddenly it's full of women. Anyone can read what you share. We talk a lot about strategy, where we want to go. We work a lot on conversion.. Bellettini, a former investment banker, had stints at Prada group and Helmut Lang. This required their team members to take on unique responsibilities, for instance, those who work at the stores as sales assistants were trained to become sales assistants over the phone. This is why we are less vocal. Many observers credit Slimane for Saint Laurents recent success. You may cancel your subscription at anytime by calling Despite this, Bellettini stated that they are stronger than ever as a brand. Diversification has been one key to the houses current success. You have to know where you want to go, she said. Bellettini joined Yves Saint Laurent from Bottega Veneta. It was her fathers kind wisdom to follow her dreams at the young age of 29 that drove her to push away her fears and pursue a more uncertain path. Painted black lacquer with gleaming white markers, its more appropriate for an upscale bondage club than a place to stash the companys off-duty town cars. We understand what each other wants, she said. Moderated by Emma Rosenkranz 23, vice-president of Fashion@Brown, and Dani Siegal 24, social media coordinator, Ms. Bellettini gave an inspiring talk which spoke to her courage, integrity, and drive. Under CEO Francesca Bellettini and designer Anthony Vaccarello, Saint Laurent has more than doubled sales in 5 years and is on track to surpass $3 billion in 2022. We dont do it to sell an extra bag. Will Others Follow? He is Belgian-born, and his first language is French, but his parents come from Agrigento in Sicily, and he grew up speaking Italian. All rights reserved. But she did not pull the ads. It earned the brand criticisms. Bellettini says: Anthony always created a very compelling and complete collection and the show in March 2020, featuring colored tailoring jackets and latex pants, gave visibility to its offer variety. Reproduce canciones como "Distratto (I Wonder About You) [Acoustic Live Solo]", "Be My Husband (Acoustic Live Solo)" y mucho ms. She was there to review a collection for the upcoming season. Got some news on an exceptional woman? In the third quarter of 2021, Saint Laurent generated 22 per cent of its sales in Asia Pacific, versus 41 per cent for Gucci and 35 per cent for Bottega Veneta. She climbed the ladder at Kering starting in 2003, when she joined as strategic planning director and associate worldwide merchandising director of Gucci. Thanks to the law of 1948 and to her grandmother, the nominal tenant who is always absent, Francesca Cigalone and all her tribe (thoughtless husband, orphan sister, self-centered film maker and his mistress of the day, eccentric granny, friends, friends of the friends . He and Ms. Bellettini speak to each other in English but sometimes send text messages in Italian. of Yves Saint Laurent. A University of East Anglia researcher, Helen Bear, is developing technology to enable computers to read lips. When describing why she chose Goldman Sachs International over other companies, she said that the company felt like a family. But when BoF founder and editor-in-chief Imran Amed asked Bellettini what she . Bellettini says: The work that Anthony has been doing in terms of diversity of age, sex, gender, color, body type, as judged on a 360 basis, has been quite impressive, still being able to communicate the brand. Bellettini proclaimed herself to be a perfectionist; and although this can be helpful to produce meticulous work, she also recognized how it does not allow for mistakes; and, mistakes are critical on the journey to growth and success. 29 November 2018. And you have to act as if youre already there., https://www.nytimes.com/2018/02/27/style/francesca-bellettini-yves-saint-laurent-paris.html. At the time Pinault, chairman of parent company Kering, wasopen about his wish that the house reach $1 billion dollars in sales and Bellettini played an integral role in achieving thatgoal. A record number of women made Britains rich list, Yves Saint Laurents chief exec talks about managing a successful fashion business, and in one area of Silicon Valley, women rule. Her poise, her elegance, her drive, all with an overwhelming optimism. She is resolved to stay true to the brands DNA while pushing to capture new customers and enter new markets. From 1999 until 2002, Ms. Bellettini worked in the Prada Group, Italy, first in the Planning and New Business Development Division of Prada and, in 2002, as Operations Manager of Helmut Lang. Sexy concepts When I met him, I was incredibly impressed that he was not at all afraid of the challenge. Still, she acknowledged, It is sometimes true you dont consider the circumstances in which things happen.. FOR those predicting another seismic shift in brand identity at Saint Laurent - following the departure of Hedi Slimane last month and the appointment of Anthony Vaccarello - you will be in for a surprise. Yet, this also meant that they could not hire more people either. . In 2013, she became President and Chief Executive Officer of Yves Saint Laurent.